New Rules for Capital Gains Taxation of Second Homes

The IRS has targeted vacation homes, second homes, and even rental homes with new rules that govern taxation of capital gains. These new rules go into effect January 1, 2009.  Because ownership (or desire of ownership) of vacation homes is most common among baby boomers, it is an important issue to consider. Read more

Finding Property for a Vacation Home, Second Home, or to Retire

Although we already have a lake house as a second home that we are also likely to use in retirement, I am always looking around at other vacation home property to discuss with Mrs. GoTo and to share with family and friends.  If you are like me, it is fun to explore and sometimes fantasize about other places to live, some exotic and some just off-the-chart luxurious.   Periodically, I even look at retirement property for sale in other countries but that will have to wait for another post on another day. Read more

Selecting a Lake House as a Vacation Home

Mrs. GoTo and I purchased a vacation home for our 25th wedding anniversary.  We were blessed with the resources to fulfill a dream of owning a home on the water.  To be honest, I never imagined that I would be able to do something like own a lake house while I was still young enough to enjoy it.  (The photo to the left is an evening view looking across the bay from our dock.  That’s what I call stress relief for baby boomers!) Read more

The Benefits of a Pre-Retirement Vacation Home

For our 25th wedding anniversary, Mrs. GoTo and I decided to skip the extravagant party and exotic vacation.  Instead, we purchased a pre-retirement vacation home.  (That’s our lake house on the left, with a bunch of our extended family visiting for the week.)  We’ve owned our second home now for seven years.  So far, we love it.  Read more